Is Zac Efron Gay? And If So, So What!

The celebrity interweb is aflutter over Zac Efron holding hands with a dude at a recent NBA Party.  The news comes from a "very reliable source," The National Inquirer.  Does your inquiring mind want to know more?  Peep this:

According to the Inquirer, this could all be a plot to make ex-grilfriend Vanessa Hudgens jealous, especially since she was also at the event.  Sources say Vanessa didn't seem to care, which is believable considering she has been pretty busy doing her own thing, including getting a neck tatoo, posing for steamy photos such as those from her recent Candies ad campaign and a spread in Details Magazine, and looking like this at the premier of her new film Beastly co-staring hottie Alex Pettyfer:

The gay rumors around Zac Effron aren't new.  This photo of him kissing another guy came out in 2008 and was covered by Buzznet user leroyrobertpotts (Zac's in the hat).

What do you think?  Is Zac Effron gay?  If so, will it tarnish his squeaky clean Disney image?  Do you care?